Latest news with #IndianOil
India Gazette
15 hours ago
- Business
- India Gazette
IndianOil finalises India's largest Green Hydrogen project at Panipat
New Delhi [India], May 31 (ANI): In a major step towards promoting clean energy in India, IndianOil has finalised the Levelized Cost of Hydrogen (LCOH) for setting up a 10,000 Tonnes Per Annum Green Hydrogen Generation Unit at its Panipat Refinery & Petrochemical Complex. This project marks IndianOil's entry into the green hydrogen sector and will be the largest green hydrogen initiative in India to date. The company in a statement on Friday, stated that 'Slated for commissioning by December 2027, the Green Hydrogen produced will replace fossil-derived Hydrogen in refinery operations, resulting in substantial reduction in Carbon emissions'. The plant is expected to be commissioned by December 2027. The green hydrogen produced at this facility will replace the fossil-fuel-based hydrogen currently used in the refinery's operations. This transition is expected to significantly cut down carbon emissions, helping IndianOil move towards a more sustainable and environment-friendly model. The company also added that this initiative is in line with Prime Minister Narendra Modi's vision under the National Green Hydrogen Mission and forms a critical part of IndianOil's larger decarbonization strategy. The project also supports the company's Net Zero target and demonstrates its commitment to leading India's shift towards a cleaner and greener energy future. Earlier, Arvinder Singh Sahney, Chairman of IOC, during an exclusive conversation with ANI at the World Economic Forum 2025 in Davos, Switzerland, stated that the plant, with a production capacity of 10,000 tons per annum, had made substantial progress. 'Green hydrogen plant is now alive. We have got very good bids for it. And now the tenders are under evaluation. And within a month or so, we will be able to award the job, and within two years, that green hydrogen, the 10,000 tons per annum plant at Panipat (Haryana) will be commissioned' he said. The plant aims to bolster India's green energy mission, contributing to a sustainable and carbon-neutral future. With this landmark project, IndianOil further strengthens its leadership in the country's energy transformation journey. (ANI)
Business Upturn
a day ago
- Business
- Business Upturn
IndianOil finalizes LCoH for India's largest green hydrogen project at Panipat
Indian Oil Corporation Limited (IndianOil) has finalised the Levelized Cost of Hydrogen (LCoH) for establishing a 10,000 tonnes per annum (TPA) Green Hydrogen Generation Unit at its Panipat Refinery & Petrochemical Complex. This move marks IndianOil's foray into green hydrogen production, positioning it as a key player in India's transition to cleaner energy sources. In the exchange filing, the company shared, 'IndianOil has finalised the Levelized Cost of Hydrogen (LCoH)* for setting up a 10,000 Tonnes Per Annum Green Hydrogen Generation Unit at its Panipat Refinery & Petrochemical Complex. This marks IndianOil's entry into the green hydrogen space with India's largest-ever green hydrogen project to date.' Advertisement Scheduled for commissioning by December 2027, the unit will produce green hydrogen—generated using renewable energy—which will be used to replace fossil-based hydrogen currently utilized in refinery operations. This substitution is expected to significantly reduce carbon emissions at the facility. The project is aligned with the Government of India's National Green Hydrogen Mission and forms part of IndianOil's broader decarbonization strategy. By focusing on green hydrogen, the company aims to support national climate goals and move towards its net-zero emissions target.
News18
2 days ago
- Automotive
- News18
Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On May 30
Last Updated: Petrol, Diesel Price On May 30: Check City-Wise Rates Across India Including In Delhi, Mumbai And Kolkata Latest prices of petrol and diesel in your city. Petrol and Diesel Prices on May 30, 2025: Oil marketing companies (OMCs) revise petrol and diesel prices daily at 6 AM, reflecting fluctuations in global crude oil prices and currency exchange rates. These regular updates ensure transparency and provide consumers with the most accurate and current fuel price information. Petrol Diesel Price Today In India Check city-wise petrol and diesel prices on May 30: City Petrol (₹/L) Diesel (₹/L) New Delhi 94.72 87.62 Mumbai 104.21 92.15 Kolkata 103.94 90.76 Chennai 100.75 92.34 Ahmedabad 94.49 90.17 Bengaluru 102.92 89.02 Hyderabad 107.46 95.70 Jaipur 104.72 90.21 Lucknow 94.69 87.80 Pune 104.04 90.57 Chandigarh 94.30 82.45 Indore 106.48 91.88 Patna 105.58 93.80 Surat 95.00 89.00 Nashik 95.50 89.50 Key Factors Behind Petrol and Diesel Rates Petrol and diesel prices in India have remained unchanged since May 2022, following tax reductions by the central and several state governments. Oil Marketing Companies (OMCs) update fuel prices daily at 6 a.m., adjusting for fluctuations in global crude oil markets. While these rates are technically market-linked, they are also influenced by regulatory measures such as excise duties, base pricing frameworks, and informal price caps. How to Check Petrol and Diesel Prices via SMS You can easily check the latest petrol and diesel prices in your city through SMS. For Indian Oil customers, text the city code followed by 'RSP" to 9224992249. BPCL customers can send 'RSP" to 9223112222, and HPCL customers can text 'HP Price" to 9222201122 to receive the current fuel prices. Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published:
Time of India
2 days ago
- Automotive
- Time of India
Ethanol taking centerstage in India's clean energy landscape amid growth in biofuels
New Delhi: Ethanol, the renewable fuel made from plant materials, is fast gaining prominence in India's clean energy sector with its increasing use in replacing fossil resources as part of a larger movement favouring biofuels . Consider the fact that the average Ethanol Blending Percentage achieved by the Oil Marketing Companies (OMCs) reached 18.4 per cent at the end of March 2025, from 14.6 per cent in the previous year, inching closer to the national target of 20 per cent. "As far as use of biofuels in the transport sector is concerned, ethanol blending has been a great success and we are now touching 20 per cent of ethanol bending in gasoline. There are discussions on ethanol blending beyond 20 per cent. There are talks about using flex fuel vehicles which are also coming up. All the OEMs have been given a target to come out with flex fuel vehicles in this year. With that ethanol blending percentage will go higher," said Alok Sharma, Director (R&D) at Indian Oil Corp . The oil companies are also working on an Alcohol to Jet (ATJ) fuel plan. While these plants are in the initial stages they will also come up in the next 2-3 years as the blending percentage increases slowly. Thanks to the aviation boom and the upcoming CORSIA mandates oil firms are shifting focus to Sustainable Aviation Fuel (SAF) . IOC, for instance, is trying to use Used Cooking Oil (UCO) for making SAF, and the first plant is likely to be commissioned by October 2025 on Coprocessing route. IOC plans to produce at least up to 1-2 per cent of SAF blended ATF. "By 2030, there is a likely mandate that 5 per cent of aviation fuel will be SAF. We are also trying to modify some of the plants where we can use UCO in our refineries. There are dedicated plants also being thought of where we can use UCO without co-processing to produce neat SAF. So, Ethanol is definitely going to be a centerstage going forward in the form of ethanol blending in gasoline, ethanol blending in diesel, and it will also be used as feed for producing aviation fuel," Sharma said. Parallely, Indian Oil has set up its first plant for 2G Ethanol -- produced from agricultural residues and non-food crops -- at Panipat even as it faces a few issues in handling of the feed. It is running the plant at around 50 per cent capacity while the scale up-related issues are sorted. Other OMCs are also setting up at least three more plants. The companies see 2G ethanol too playing a critical role in boosting clean energy uptake as the issues surrounding feed supply chain, feed handling and the high price of 2G ethanol are addressed. Apart from Ethanol, the past few years have witnessed progress on bio-CNG front too, which is receiving push under the SATAT scheme. Indian Oil has already set up three CBG plants under SATAT and it has plans to set up around 30 plants this year. "The CBG programme has received a push also because of the CBG blending mandates -- 1 per cent by 2026, and increasing to 5 per cent by 2030. There are various schemes launched by the government on these initiatives including on Ethanol blending, biofuel policy, PM JI-VAN Yojana, Gobardhan etc. A lot of policies have been launched to push these fuels in the energy mix," Sharma said. Another key promising area in fuel research is bio-Hydrogen used in the transport industry. IOC is working in this direction. Apart from Hydrogen production from the electrolysis of water, work on biomass gasification as a pathway is gaining traction. Indian Oil is trying to produce green Hydrogen via this route jointly with the Indian Institute of Science (IISc). The OMC has already developed a process allowing 5 kg per hour of Green Hydrogen to be produced from biomass gasification and it plans to scale it up in one of its refineries. The company also sees potential in using CBG reforming as a Green Hydrogen pathway. Overall, the biofuel sector in India is grappling with five broad challenges including skills, standards, segregation of waste, scale up and supply chain but Sharma believes there are many opportunities too in areas like 2G Ethanol, WTE, and non-food crops. India is aiming to become Net Zero by 2070, and in the Oil & Gas sector most of the companies have already announced their Net Zero targets. For example, IOC has plans to achieve operational Net Zero by 2046. Sharma believes in order to achieve the Net Zero goal, action is required on key areas like energy efficien cy, renewable energy including biofuels, Green Hydrogen, and Carbon Capture, Utilization and Storage (CCUS). The focus on biofuels must be ramped up specifically in view of their critical role in the decarbonisation of the automobile sector too.
News18
3 days ago
- Automotive
- News18
Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On May 29
Last Updated: Petrol, Diesel Price On May 29: Check City-Wise Rates Across India Including In Delhi, Mumbai And Kolkata Petrol and Diesel Prices on May 29, 2025: Oil marketing companies (OMCs) revise petrol and diesel prices daily at 6 AM, reflecting fluctuations in global crude oil prices and currency exchange rates. These regular updates ensure transparency and provide consumers with the most accurate and current fuel price information. Petrol Diesel Price Today In India Check city-wise petrol and diesel prices on May 29: City Petrol (₹/L) Diesel (₹/L) New Delhi 94.72 87.62 Mumbai 104.21 92.15 Kolkata 103.94 90.76 Chennai 100.75 92.34 Ahmedabad 94.49 90.17 Bengaluru 102.92 89.02 Hyderabad 107.46 95.70 Jaipur 104.72 90.21 Lucknow 94.69 87.80 Pune 104.04 90.57 Chandigarh 94.30 82.45 Indore 106.48 91.88 Patna 105.58 93.80 Surat 95.00 89.00 Nashik 95.50 89.50 Key Factors Behind Petrol and Diesel Rates Petrol and diesel prices in India have remained unchanged since May 2022, following tax reductions by the central and several state governments. advetisement Oil Marketing Companies (OMCs) update fuel prices daily at 6 a.m., adjusting for fluctuations in global crude oil markets. While these rates are technically market-linked, they are also influenced by regulatory measures such as excise duties, base pricing frameworks, and informal price caps. Key Factors Influencing Fuel Prices in India Crude Oil Prices: Global crude oil rates are a primary driver of fuel prices, as crude is the main input in petrol and diesel production. Exchange Rate: Since India relies heavily on crude oil imports, the value of the Indian rupee against the US dollar significantly affects fuel costs. A weaker rupee typically translates to higher prices. Taxes: Central and state-level taxes constitute a major portion of retail fuel prices. Tax rates vary across states, leading to regional price differences. Refining Costs: The cost of processing crude oil into usable fuel impacts retail prices. These costs can fluctuate depending on crude quality and refinery efficiency. Demand-Supply Dynamics: Market demand also influences fuel pricing. Higher demand can push prices up as supply adjusts to consumption trends. How to Check Petrol and Diesel Prices via SMS You can easily check the latest petrol and diesel prices in your city through SMS. For Indian Oil customers, text the city code followed by 'RSP" to 9224992249. BPCL customers can send 'RSP" to 9223112222, and HPCL customers can text 'HP Price" to 9222201122 to receive the current fuel prices. Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published:
